The Work in Process Inventory account for DG Manufacturing f…
The Work in Process Inventory account for DG Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory. Work in Process Inventory Beginning WIP 4,500 Direct materials 47,100 Direct labor 29,600 Applied overhead 15,800 To finished goods ? Ending WIP 8,900 The cost of jobs transferred to finished goods is:
Read DetailsThe Work in Process Inventory account of a manufacturing com…
The Work in Process Inventory account of a manufacturing company has a $4,400 debit balance. The company applies overhead using direct labor cost. The cost sheet of the only job still in process shows direct material cost of $2,000 and direct labor cost of $800. Therefore, the company’s predetermined overhead rate is:
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